Word: dinaric
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Unbelievable Pressure. Tito's task of maintaining unity while solving the problem of succession is made even more difficult by the fact that the economy is in bad shape because the Yugoslavs have been living beyond their means. Despite a 15% devaluation of the dinar last fall, Yugoslavia's trade deficit rose 62% in the first quarter of the year, while retail prices soared 12%, and the cost of living...
...West Bank's economy, some 25 Israeli bank branches have opened in the area, and last week the Israeli pound was made legal tender along with the Jordanian dinar. The Jeru salem government has virtually adopted the former Jordanian budget for the West Bank, including development plans for road building and other public works totaling $5,600,000 this year. All former local officials, including all the West Bank mayors and most city employees, have stayed on their jobs under Israeli rule. Wherever possible, Israel is keeping Jordanian law and custom intact. Thus schoolchildren will get their books free...
...lies one quarter of the world's oil. Though that fortune was all his own by dynastic right, Sheik Abdullah squandered none of it on sybaritic pleasures, used his billions in royalties to drag the once backward country from the 10th into the 20th century. Without collecting a dinar of taxes from Kuwaitis, he wiped out unemployment in a land of underfed illiterates, created an elaborate school system and the world's most lavish welfare state, rebuilt the mud brick capital city of Kuwait into a tidy little air-conditioned marvel of modern office buildings and apartments...
...currency is in strong demand for no apparent reason, it is often a signal to the shrewd Lebanese experts that someone is buying it up to send back home in order to finance a coup. Example: just before Abdul Karim Kassem took power in Iraq in 1958, the Iraqi dinar's price moved up sharply. The traffic goes the other way too: when the rich in a particular country get worried about impending trouble (for instance, before Nasser started nationalizing), they are apt to move their money to Lebanon, ready to follow in person if necessary. "Money...
...Yugoslavia's many nationalities, which Tito has greatly subdued but not eradicated. Though claiming that "we are among the first countries in the world in rate of economic growth," Tito admitted to inadequate labor productivity and poor administration, although he dodged mentioning the falling value of the Yugoslav dinar, which in three years has gone from 750 to the dollar...